Deutsche Bank confirms chairman Achleitner nomination

November 21, 2016 3:46 AM EST

File photo of Paul Achleitner addressing the bank's annual general meeting in Frankfurt, Germany, May 19, 2016. REUTERS/Kai Pfaffenbach


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FRANKFURT (Reuters) - Deutsche Bank's supervisory board unanimously nominated chairman Paul Achleitner for a second term, a spokesman of Germany's biggest lender confirmed on Monday.

"It is true that Deutsche Bank's supervisory board has unanimously nominated Paul Achleitner for reelection at the annual general meeting in May 2017," the spokesman said.

The spokesman added that an internal investigation had also cleared Achleitner of wrongdoing in connection with the bank's alleged manipulation of interbank rates including Libor, which cost it a record $2.5 billion in fines from U.S. and British authorities.

A source close to the bank had already told Reuters on Sunday that Achleitner had been nominated.

Some major shareholders last week said had concerns about the nomination, although others said they supported it in light of the lender's poor earnings and faltering share price.

(Reporting by Kathrin Jones; Writing by Tina Bellon; Editing by Georgina Prodhan)



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